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When do Businesses file taxes?
Single-Member LLCs and calendar year C-Corporations must file taxes by April 15th or get an approved extension of October 15th. Multi-Member LLCs and S- Corporations must file taxes by March 15th or get an approved extension of September 15th.
How do I get a Business Tax Extension?
All BusinessRocket Tax plan subscribers receive a free yearly extension to file taxes.
Is Filing Taxes the same as filing Annual Reports?
No, when we mention “Taxes” we are referring to the Income Tax returns that need to be done for your business on a state and federal level. In addition to annual income tax, most states have Annual Reports that need to be filed to keep basic information about the business up to date in their records.
How is an LLC taxed?
An LLC is the most flexible business entity. Upon inception, an LLC is either taxed asa disregarded entity (through the owner’s personal taxes) or a partnership (an LLC with more than one member). LLC’s can also elect to be taxed as a C-Corporation oran S-Corporation. Work with your Tax Advisor to determine which structure is best for you.